Internet retailing continued to experience impressive current value growth rates in Colombia at the end of the review period. Its growth is consolidated in two figures, both in number of transactions and actual value sales, with strong growth predicted for the forecast period in current value terms.
Internet retailing would not have made such strong gains in a short time span if the value chain of e-commerce did not contribute to each link in the digital ecosystem of the country. Improved internet access by operators combined with the free service offered by the government through programs such as Puntos y Kioskos Vive Digital and Free Wi-Fi Zones for people, which have been installed in remote parts of the country, continues to increase the penetration rate and internet connections each year.
In addition to market trends boosting the rapid growth of internet retailing in the country, initiatives from the government, unions, control bodies and companies involved in the digital economy are all boosting strategies to digitise the country´s productive sector with technology. Digital Entrepreneur seeks to promote e-commerce as a strategic channel for micro-, small- and medium-sized companies.
The arrival of large companies such as Amazon to Colombia, will not only become a luxury protagonist in the country's competitive landscape of internet retailing, but will also continue to boost companies that provide solutions for e-commerce throughout the value chain of the digital ecosystem, thus creating use of opportunities that strengthen existing companies. Therefore, companies offering payment platforms and are pioneers in the financial sector, will continue to take advantage of the information they obtain by offering it to the market as data tools for decision-making and customer segmentation.
The national entrepreneurship ecosystem increasingly focuses on projects related to the involvement of internet retailing in the country, while allies join the development of its infrastructure and logistics industry. This allows retailers, which opt for omnichannel as a growth strategy, to find an answer that allows them to fulfil their delivery promise, have flexibility from logistics operators, and even find alliances with the different entities involved in e-commerce in the country.
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Understand the latest market trends and future growth opportunities for the Internet Retailing industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Internet Retailing research and analysis database.
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